The Elk Grove real estate market, following the trend of the larger Sacramento county real estate market as well as other local smaller markets, is mostly unchanged from last year about this time. 283 homes sold in Elk Grove in the month of June, over 280 in June of 2009. However, foreclosure sales fell 27.7% while short sales gained 25% in sales. Non-distressed home sales rose the highest in Elk Grove at 52.8% year over year.

Average price per square foot continued to stabilize and currently rests at $114.93 up 2.3% year over year from $112.38. Home buyers bought homes on average 2.7% larger this year than in last June. Average sales price reflects this slight increase in the size of homes bought and sold and is 5.1% higher than it was a year ago. Average sales price now is $248,063. Last June it was $236,078. Median sales price is currently $235,000 which is 2.2% higher than a year ago when it was $230,000.

Overall inventory in Elk Grove is at 3.5 months, foreclosure inventory is less than 1 month while short sale inventory hovers around 10 months.

Comments are closed.